To offset the impact of the introduction of the Goods and Services Tax (GST), the Commonwealth has requested that the States and Territories assist first home buyers through the establishment of the FHOG. It entitles eligible applicants to a one-off payment on the purchase of their first home.

The broad principles of the grant are;

Eligible applicants from 1 July 2000 are entitled to a one of $7,000 payment
Eligible applicants must be natural persons, who are Australian citizens or permanent residents who are buying or building their first home in Australia
An eligible home will be located in Australia and will be a new or established house, home unit, flat or other type of self contained fixed dwelling that lawfully can be used as a place or residence
An eligible home must be occupied by the applicant(s) as their principal place of residence within 12 months of completion of construction or settlement of the home
Joint applications are restricted to a single application for a single property. However, if either applicant has previously owned a home, no grant will be available
The grant is not means tested
Tax is not payable on the grant

Each State and Territory Revenue Office is responsible for administering the First Home Owner Grant in their respective jurisdictions.

For more information, contact the Office of State Revenue, speak to your solicitor, or visit the government web site at http://www.firsthome.gov.au

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